Auditors’ Report on Summarized Financial Statements

To the Directors of Mount Sinai Hospital:

The accompanying summarized statements of financial position, operations and changes in net assets (deficiency) are derived from the complete financial statements of Mount Sinai Hospital as at March 31, 2009 and for the year then ended on which we expressed an opinion without reservation in our report dated May 19, 2009. The fair summarization of the complete financial statements is the responsibility of management. Our responsibility, in accordance with the applicable Assurance Guideline of The Canadian Institute of Chartered Accountants, is to report on the summarized financial statements.

In our opinion, the accompanying summarized financial statements fairly summarize, in all material respects, the related complete financial statements in accordance with the criteria described in the Guideline referred to above.

These summarized financial statements do not contain all the disclosures required by Canadian generally accepted accounting principles. Readers are cautioned that these statements may not be appropriate for their purposes.

For more information on the Hospital’s financial position, results of operations and cash flows, references should be made to the related complete financial statements.

Chartered Accountants, Licensed Public Accountants
Toronto, Canada
May 19, 2009